Card fraud soars to £411m

Thursday 25 April 2002 23:00 BST

CREDIT and debit card fraud has more than quadrupled in just four years, figures have revealed. A study by industry analysts shows that the total cost of card fraud leapt from £97.1m in 1997 to £411.4m last year.

In response, the Home Office will today unveil plans for a police unit dedicated to fighting card fraud, particularly the international gangs involved in counterfeiting. The move comes amid concern that fraud is fuelling a vast criminal culture including drugs, prostitution and the trafficking of illegal immigrants.

Home Office Minister John Denham said: 'The unit will enable this kind of fraud to be tackled more effectively as the nature of the crime often means that police forces have neither the resources nor the expertise to investigate these specialist crimes.'